Christopher J. Kahle’s Post

🛍️ Despite an 80% increase in store closures in 2023 compared to 2022, the retail landscape is not just surviving; it's evolving. As brick-and-mortar stores navigate closures and consumer behaviour shifts, exceptional customer service's importance stands out more than ever. In this latest article, we delve into strategies for staying ahead, including the critical role of employee training and development. Read here 👉 https://lnkd.in/e3BnWZqu Stay tuned for insights on fostering a customer-centric culture and maximizing success in retail. #RetailTrends #CustomerServiceExcellence #EvolveHRS

Department store group John Lewis has proposed significant changes to its in-store operations as it seeks to increase the time that staff spend with shoppers, reported Retail Week. The changes are likely to lead to the loss of 153 roles – about 1% of the workforce. John Lewis proposes: - to adapt partner hours “to make sure we’re focused on meeting the needs of customers”. - to end the present distinction between front and back of store roles, giving more flexibility so more staff are on the shop floor at busy times. - “greater focus on pre-trade activity and making sure that product availability is as high as possible” - simpler stock and replenishment processes. - £5m investment in digital headsets, improving communication in stores, to reduce waiting time for shoppers and cut the time employees spend hunting each other down. - to introduce mobile payment to 5,000 partner devices, allowing customers to be served on the shop floor rather than at a till - to install dedicated call points in shops, such as in fitting rooms and collection areas, allowing customers to more easily ask for help. - to invest £1m in mobile printers so that missing shelf-edge labels – the replacement of which is currently a labour-intensive process – can be addressed quickly.

"Lately, many big retail brands have been closing physical locations, in what has become known as the "retail apocalypse." Whether the stated reason is declining revenue, or concerns related to "shrinkage" and employee safety in some cities, the impact of store closure on consumers and their communities threatens to be seriously negative. The financial spillover for the retailers themselves, though, may be an equally valid concern. Yet few observers ask questions such as, What happens to shoppers when stores close? What about sales? Are firms better off with their decisions to close shop?" #retail #brickandmortar

Macy’s is closing another 150 stores and they have tried by updating their product mix to stay ahead of the changing consumers shopping behaviors however, I think they missed one important part of this equation, STAFFING. I was in a Macy's store two days ago and in the entire women’s section, there we NO employees and when I finally found someone, I’m sorry to say the service was not good. I had to walk to the shoe department. There were so many customers complaining at the cash register as well. In my opinion and what the shoppers are telling us today, customer service is top of mind. You have to have the right staff, with the right training, in the right and this will make the biggest difference in your top and bottom line. We want good service, we want sales people that we can find and we want to be helped. I would have walked out not buying anything if I didn't need that one item. However, i will tell you if I had someone helping me, I would have bought a lot more. I believe it’s a simple formula, you have to be located in the right mall, in the right location and offering the right product mix. I agree with all of that however, nothing takes precedence over having staff that provide great customer service. #customerservice #sales #retailers #Macys #training #productmix #inventory #bepresent #TopRetailExpert International Retail Group, LLC

You probably see it all around the city you're in: Store closures. They are happening at a higher rate this year, BUT that doesn't mean it’s the end of in-person shopping. We are just going through a typical industry 'reset' or 'adjustment' to consumer tastes.   Some examples of 2024 store closures include Family Dollar closing ~675 stores, CVS/Walgreens /Rite-Aid closing ~950 stores combined, Wendy's closing ~150 restaurants. Big Lots closing ~350 stores, Denny's closing ~150 restaurants.   But, while these are happening, other retailers are capitalizing on the freed up space. Off-price leaders like TJMax and Burlington have signaled opening hundreds of new stores over the next couple years. Aldi plans to open nearly 1k stores. These players will eat up this real-estate.   It does ALSO signal a move toward better, more efficient use of retail space … which is why most retailers are moving toward smaller footprints, technology to support a leaner staffing model, etc.   So, end of in-person shopping? No. It's just the expected shift that occurs in an industry where consumer trends shift…which is why retail is such an interesting and challenging space to navigate. Source: New York Times, CNN Business https://lnkd.in/gFJa9yzv

Traditional department stores in their current format are a sunset industry, slowly dying out as ways of shopping and consumer preferences rapidly change. While the expected closure of Smith & Caughey's may have come as a surprise to consumers and the public, for those working inside the retail industry, it was inevitable. Read more about this and the challenges of the model in today’s SST

Here are some interesting stories from the world of retail for Sunday, September 29: 🗳️ Amazon is in advanced talks with former NBC News anchor Brian Williams to host a presidential election-night program on its Prime Video streaming platform. The special would feature pundits and personalities. 🍒 Kroger is in the midst of a weeklong set of promotions it described as a a mega-sales event. The sale is known as Customer Appreciation Week and offers discounts across own-brand and national brand items. 👗 Hudson's Bay has announced a partnership with Centric Brands to reintroduce Ann Taylor and Loft to the Canadian market. The agreement will allow the brands to open stores within select Hudson’s Bay locations. 🛒 Costco Wholesale installed ID scanners at more than half of its US warehouses and says the system is working. The company also said members have largely shrugged off the latest increase to the annual fee. 👜 Luxury brands leased over 360,000 sq ft in the US from July 2023 to July 2024. Almost half of new luxury stores opened in malls. Street retail accounted for 48.5% of openings. 📱 Grocery Outlet recently launched an app that’s unlike those of other food retailers, with an emphasis solely on promoting savings while driving customers to its stores. The app had over 700,000 total downloads as of Q2. 🚢 Dockworkers along the East and Gulf coasts have pledged to strike unless a new contract is reached by October, prompting experts to warn that higher prices and empty shelves could await consumers. 👖 VF Corporation has appointed Chris Goble, a veteran from Gap Inc., as the new head of its Dickies workwear brand, continuing a series of leadership changes aimed at revitalising the company’s performance. 🇬🇧 The UK's Asda is facing difficulties in its search for a new chief executive following the departure of Mohsin Issa. Despite offering a multimillion-pound contract, headhunters have struggled to attract candidates. 💵 When the dollar store closes, US families on food benefits lose a lifeline. The closings, after a sustained period of high inflation, will worsen access to groceries in poor communities, notes Reuters. 🥤 Dirty soda shops want to be the next Starbucks. Dirty soda is a non-alcoholic drink combined with creams, flavored syrups or fruit. The beverages are ingrained into Mormon culture in the Mountain West. 🏷️ UK supermarkets are moving towards digital price tags, potentially phasing out traditional paper labels. French tech firm Vusion plans to implement this technology in 1,000 stores across the UK and Ireland by year-end. 🇨🇳 PayPal is stepping up efforts to support Chinese cross-border merchants with the launch of new services in Shenzhen, tapping into booming exports from the country despite economic headwinds. #retail #retailnews #economy #DailyRetailNews

Luxury Brand Expansion: I think it’s difficult to read a square footage number and make it meaningful so I prefer to look at #stores. In several sources on Google including Forbes, it states the average luxury store is 5,000 square feet. Thus 360,000 which at first seemed like a big number is actually only about 70 stores with approximately 35 on the street and 35 in malls which given how many luxury brands there are we are talking O-maybe 2 or 3 per brand. Or by state maybe 0-5 max in top markets. So I wouldn’t call this remarkable given how well the luxury market has performed in USA overall. I would think this sector could get more aggressive as well as testing smaller formats tailoring assortments closely to local customer. For example 5,000+ is great for major cities but places like Palm Springs, Carmel, Aspen or Brooklyn (where luxury should be expanding) could perhaps run with smaller footprint and different assortment. For example, although ties are a top 5 heritage product some stores may not even need them or suits at all - perhaps they need an expanded sneaker and athleisure assortment. Needed expanded sun/swim in year round hot locals and more heavy weights in places like Aspen. Of course, the brand must remain in tact but it’s definitely not a broad brush stroke approach in terms of product which requires an expert market focused merchant not a computer. The USA luxury market is about $100 billion revenue businesss with a 5 year 4% CAGR forecast by Statista or approximately $4 billion a year. Amazon: Love the Brian Williams concept. When one looks at the addition of something like this - how do we feel about “monopoly” or I prefer to look at it more from a total dominance over the way of life in America. Why not gobble up or start a whole social media channel. Where does it end? When is it all just too much? Or should we not care? Thoughts? Thank you Neil Saunders #luxury #realestate #stores #expansion Hermès Tiffany & Co. Christian Dior LVMH Cartier Burberry Fendi #regionalmerchandising #squarefootage STATISTA Forbes

The wonderful world of retail definitely comes with its challenges - not least the increased pressure to cut costs. That means, unlike years gone by, retailers can no longer afford to have huge teams of staff. Instead, they need to be able to empower smaller teams to broaden their skill sets to keep costs low and customers happy. Business Development Director, Øyvind Fosser, gives his insights into finding the perfect balance below ⬇️ https://lnkd.in/eVWZYCJC #Retail #CustomerService #WorkplaceTraining

Weekly US and UK Store Openings and Closures Tracker 2024, Week 43 In the “Weekly US and UK Store Openings and Closures Tracker 2024” reports, Coresight Research explores the retail landscape to bring you the latest data and developments on major players’ store footprints. The latest report, for week 43 of 2024 (ended October 25), includes updates from Amazon, At Home Group Inc., CVS Health, buybuy BABY, Ulta Beauty, Zegna and others. Data in this research report include: • Week-by-week comparisons of announced store closures and openings in the US and the UK—2024 vs. 2023 • Major US and UK store closures and openings, 2024 • Major US and UK retail bankruptcies—2024 and 2023 • Understanding store trends is crucial for making informed strategic decisions and staying ahead of market dynamics. Subscribe to access our latest report: https://lnkd.in/dr89yC_A #RetailinUS #RetailinUK #storeopenings #expertanalysis #storeclosures